What is Homestead Exemptions Homestead exemptions are granted by the county appraisal district where the property is found. The exemption reduces a homeowner's property tax bill by removing part of the home's value from tax assessment. All Texas homeowners may get a general residence homestead exemption on the value of their property for school taxes upon application. An exemption removes part of the value of your property from taxation and lowers your taxes. A homestead exemption will help you save on taxes on your home. Kinds of Homestead Exemptions: School taxes — If you are qualified for the Texas homestead exemption , then you will receive at least a $25,000 homestead exemption on the value of your home for school district taxes. County taxes — Harris County currently provides a 20% optional homestead exemption to all homeowners. Optional exemptions — Any taxing unit, including a school district, city, county or special district, may offer an...